Question

Alicia borrowed 3000 dollars from the bank at a rate lf 12% simple interest per year how much interests did she pay in 4 years

Answer 1

The answer is $1440

Why? So you have to use I=prt (Intrest= principle*rate*time) and we are trying to find the interest so that stays as the variable 'I' but we have all the other numbers. I=3000*.12*4 (.12 because rate must be in fraction or decimal form). Solve and you should end up with $1,440